338 Summer St Franklin, MA 02038
Estimated payment $12,087/month
Highlights
- Golf Course Community
- Medical Services
- Corner Lot
- Gerald M. Parmenter Elementary School Rated A-
- Property is near public transit
- Jogging Path
About This Home
338 Summer Street consists of a three-story building, containing eleven (11) residential units comprised of two (2), 2-Bedroom/1 Bathroom units, seven (7), 1-Bedroom/1-Bathroom units, and two (2), Studio units with 6,248 square feet of living area in 10,722 total gross square feet. The Property is situated on a 1.00-acre parcel of land and features twenty (20) on-site parking spaces. The well-maintained property features upgrades to the common areas, including new carpet, paint, lighting and coin-operated washer and dryer machines. Additionally, seven (7) of the units have been renovated, including new kitchens, bathrooms, flooring, and paint. Current rents are below market rates and offer the opportunity to increase rents to market rates via lease renewals and programmatic updates to the unrenovated units. 338 Summer Street offers the opportunity to acquire a transit-oriented, well-maintained asset, that is poised for income growth.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,535
Year Built
- Built in 1860
Lot Details
- 1 Acre Lot
- Near Conservation Area
- Corner Lot
Home Design
- Stone Foundation
- Frame Construction
- Shingle Roof
Interior Spaces
- 6,248 Sq Ft Home
- Property has 1 Level
Bedrooms and Bathrooms
- 12 Bedrooms
- 11 Full Bathrooms
Laundry
- Dryer
- Washer
Parking
- 20 Car Parking Spaces
- Driveway
- Open Parking
- Off-Street Parking
Location
- Property is near public transit
- Property is near schools
Utilities
- Private Water Source
Listing and Financial Details
- Rent includes unit 1(water), unit 2(water), unit 3(water)
- Assessor Parcel Number 89026
Community Details
Overview
- 11 Units
Amenities
- Medical Services
- Shops
- Coin Laundry
Recreation
- Golf Course Community
- Park
- Jogging Path
- Bike Trail
Building Details
- Operating Expense $52,211
- Net Operating Income $147,413
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/06/2025 08/06/25 | Pending | -- | -- | -- |
| 07/16/2025 07/16/25 | For Sale | $2,000,000 | +57.5% | $320 / Sq Ft |
| 10/14/2022 10/14/22 | Sold | $1,270,000 | +15.5% | $201 / Sq Ft |
| 08/19/2022 08/19/22 | Pending | -- | -- | -- |
| 07/27/2022 07/27/22 | For Sale | $1,100,000 | 0.0% | $174 / Sq Ft |
| 10/17/2015 10/17/15 | Rented | $825 | 0.0% | -- |
| 10/05/2015 10/05/15 | Under Contract | -- | -- | -- |
| 09/09/2015 09/09/15 | For Rent | $825 | -- | -- |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73405071
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